Nov 8, 2012 2:00pm EST
and why. >>> speaking of taxes, good-bye l.a., hello dallas. california hiking taxes on the rich. are we about to see a big-time golden state good-bye? >>> and is black friday dead? put down that turkey leg, america. wait until you hear what the world's biggest retailer is planning. >> let's get down to business. as of now the dow and s&p is seeing their biggest two-day drops in about a year, folks. at current levels the major averages would all close at their lowest in about at least three months with the s&p briefly lost its double-digit percentage gain for the year which is currently hovering around that 10% mark. if you are looking for a bright spot, the nasdaq is still solidly in double digit territory for the year so far. bob pisani is down on the floor of the nyse. bob, new day, same problems worrying investors and the biggest bug there on the street these days seems to be fiscal cliff anxiety. is it rational? >> yeah. it's rational. i'm hopeful a deal can be made but it is rational to worry about it now that the election is over. one uncertainty down, now a new one out there.
Nov 8, 2012 1:00pm EST
can avoid getting burned. >>> plus, voters in california say raise my taxes. we debate whether this kind of action at the state level could catch on nationwide and the politics and profits of legal pot. could this be the answer for more states to help pay the bills and balance the budget? lots of things coming up top of the hour. guys, back to you on "power lunch." >> that's a controversial one, mandy. we'll see you you at 2:00. >>> samsung's galaxy s3 is the world's best selling smartphone. passing apple's iphone 4s for theirst time last quarter. according to the research firm strategy analytics, samsung sold 18 million units versus apple's 16.2 million. meanwhile, apple stock further in bear territory today with the major markets trading lower as well over the last two months. we want to know -- as apple trends lower, is it possible for other stocks in the overall stock market to recover? kenny pulcari is back with us and bob pisani as well. kenny, start with you. we're doing this because i know you remember and i remember, as go the financials, so goes the rest of the market. the
Nov 7, 2012 7:00pm EST
help us understand what mr. boehner is going to do. later on in the show, california's prop 30 passes to raise taxes on the wealthy. really? do they never learn that this will only backfire? former san francisco mayor willie brown is up next. i just want to know why we have to kill the california economy. because free market capitalism is always the best path to prosperity. i'm larry kudlow. we'll be right back. i'm a conservative investor. i invest in what i know. i turned 65 last week. i'm getting married. planning a life. there are risks, sure. but, there's no reward without it. i want to be prepared for the long haul. i see a world bursting with opportunities. india, china, brazil, ishares, small-caps, large-caps, ishares. industrials. low cost. every dollar counts. ishares. income. dividends. bonds. i like bonds. ishares. commodities. diversification. choices. my own ideas. ishares. i want to use the same stuff the big guys use. ishares. 9 out of 10 large, professional investors choose ishares for their etfs. introducing the ishares core, etfs for the heart of your portfolio. tax
Nov 7, 2012 11:00pm EST
well in this environment. oh, please, leave the rest to others. let's go to lee in california. lee. >> caller: mr. cramer, with the election over, we definitely have to invest in our infrastructure. how will chicago bridge and iron cbi benefit from this, and is it a good player or should by look elsewhere? >> i had my world rocked by the floor quarter, flr. it was so hideous and horrible, i've got to stay away from the business. foster wheeler could be hurt because the clean thing is not going to get the money. i say stay away from infrastructure. >> caller: cramer, i have a question about magnum hunter resources. i purchased about 15,000 shares at 30 cents a share. that's where it's lowest was. my question is, should i hang on to it, buy more, or sell it? >> i'm not a tax accountant, i can't tell you what to do in terms of personal. but i will tell you if i had a stock that bought at 30 cents and went to $3, that's what i call a no brainer. you got hit hard today. what works now? mlps, package consumer goods? how about some johnny walker black. don't move. lightning round is comin
Nov 8, 2012 12:00pm EST
in numbers. unitedhealthcare. for over 60,000 california foster children, the holidays can be an especially difficult time. everything's different now. sometimes i feel all alone. christmas used to be my favorite. i just don't expect anything. what if santa can't find me? to help, sleep train is holding a secret santa toy drive. bring your gift to any sleep train, and help keep the spirit of the holidays alive. not everyone can be a foster parent, but anyone can help a foster child. >> welcome back. half of the trading day in the books and here's how the top trades look thus far. j.p. morgan getting permission from the fed to resume stock buybacks in the first quarter of 2014, and stephanie link, here's a look at financials getting a snapback today up three quarters of a percent for jpm. >> it putting the london wales to bed. it's accretive to earnings and i think numbers will likely go up and i like this company very much because it has capital markets exposure and a lot of other kinds of areas in the banks where you want and the trade at one time is very attractive. >> whole fo
Nov 8, 2012 4:00pm EST
sector, in part because of some of the investments we've made as well. notably california adventure here at disney land in california. we feel good about what we're seeing. there's demand for that product. it's showing up in our pricing and showing up in our advanced bookings. >> how are the advanced bookings looking for the holiday season? >> advanced bookings for the holiday season are looking good. there's a quirk in the calendar. christmas falls on a tuesday. so some of our peak season will also fall into our next quarter because of how the quarter breaks. our bookings for the christmas period overall, which include some spillover into the next quarter, we feel very good about. that's certainly true in california. it's true in florida. it's true in paris. >> bob, the last time we talked, you seemed passionate about the need to fix our debt as a country. i wonder what your take is on president obama winning re-election. does that change anything for the company, for the industry? in terms of this fiscal cliff, everybody is expecting taxes to go higher. we're not sure how high on
Nov 8, 2012 4:00am EST
jobs and will close factories in california. at&t says it plans to phase out its old fashioned telephone service. the company eventually wants to decommission the technology behind its deck i'ds old copper line network that currently covers 76 million homes and businesses. at&t will spend $14 billionoff three years to extend its internet based broadband service to 78% of its land line service area. and on the agenda in the u.s., we've got important economic data, weekly jobless claims, my favorite. they'll hit before the market opens. and on the earnings front, up ins are kohl's, wendy's, disney and groupon. european trade this morning has been a mixed session. we started out in the green and then we had losses. markets are clawing back adding half a percent for the xetra dax. ibex 35 is back in the green after being down as much as 0.6%. u.s. futures are trying to fight to the positive. if you take fair value into account, the dow jonesville average would be adding about a point at the open. not huge moves, but again, not a big come back from the big losses yesterday.the open.